I Need advice on my first purchase

[Anthony Marshall]

I am attempting to purchase my first property in the San Fernando valley in Los Angeles and I after reading Rich Dad Poor Dad and listening to countless episodes on here I am interested in purchasing a cash flowing property. I feel most comfortable purchasing a duplex or even an ADU, but I'm having a hard time finding property for a price in the valley where I can make a positive cash flow. Should I wait keep waiting until something potential comes up in the area, should I just jump in and buy a property so I can start building equity, or should I look in other cities?

[Corby Goade]

Great advice from @Jon Schwartz above. 

I'd add that most of the chatter here on Bigger Pockets revolves around high cashflowing deals. These types of deals can't be forced in markets that don't have great cashflow. My market, like LA, is an appreciating market and those returns have excellent perks as well, but you have to analyze the deals differently and there really aren't many resources here for those types of returns. I can tell you that appreciation can be a game changer if you are patience and understand how to use leverage as a tool. 

I've never bought a 1% deal in my life, but was able to quit my day job after a few years of investing in an appreciating market. 

I'd suggest you connect with Jon and see if he can help you find a deal that will get your on your path- sounds like he knows the market and understands the long term benefits. 

Best of luck!